Starting Your Own Business

Starting Your Own Business

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You may be thinking of starting your own business, I have ran my own businesses almost all my working life and have some top tips to share with you:

Starting Your Own Business

These tips are in conjunction with master data management.

  1. Research, research, research. If you have an idea research locally and / or online to see if anyone else is doing it, and if they are, how are they doing it? How can you do it better?
  2. There is never the perfect time to start a business. It is so easy to spend large amounts of time procrastinating, and whilst you have to research and put the work in, just get on and do it!
  3. Access local business groups, local authority support, online support, forums and any other help you can find.
  4. Network, network, network. With family, friends, peers, online contacts, anyone you meet! Go to local meetings, join online groups.
  5. Be prepared to put in over and above hours when you are starting out.
  6. Have a plan – there is a great basic plan here for you. Even you don’t need a full business plan to support funding access you still need a plan to keep you focused and track how your journey is going.
  7. Enlist the help of anyone who is willing to help you in any way, including testing ideas, products, etc
  8. Investigate any funding possibilities including special schemes for young people, people in rural areas, parents returning to work.
  9. Get all the advice you need regarding your business’s legal identity, tax, etc from the HMRC website
  10. Don’t forget even if you are setting up a local business you still need a digital presence. The minimum that potential customers will expect is a professional looking website, an email address and up to date social media accounts on he platforms that your customers use.

So what if you want to start your own business but you have no idea what to do? Have a look at these for inspiration….

  1. What do you absolutely love doing? Do you have any hobbies that could hatch a small business? Baking, sewing, drawing etc?
  2. What are you good at – always being complimented on? It may be your make up, or hair or organisational skills.
  3. Top Business Ideas for 2019 include:

a. Luxury Pet Care. 45% of households in the UK own a pet and, in 2017, £4.62bn was spent on pets and related products in the UK.

b. Online coaching and consultancy. More and more people are turning to the internet for face to face consultations with video conferencing, Skype etc

c. Plastic Alternative Businesses. Awareness of the amount of plastic we use has never been higher and people are turning to natural alternatives. From toothbrushes to edible water bottles, there are many opportunities.

d. Upcycling / preloved items. Take something old or no longer useful and turn it into something useable and beautiful. The huge trend for this form of recycling looks set to continue.

So, I hope this post has given you some inspiration if you are looking to start your own business. It is hard work, can be lonely at times and you need motivation and discipline but there is also no better feeling than running your own business.

3 Comments

  1. Some great tips here x

  2. Lots of inspiration – always fancied recycle and upcycle

  3. A very comprehensive list. I have often wondered about starting a small business but it takes more courage than I presently possess. I salute all those who go for it.

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